Most difficult time theyve seen B.C. forestry group welcomes new federal aid amid stiff U.S. tariffs

The B. C. Council of Forest Industries welcomed Ottawa's announcement of an additional $500 million in loan guarantees for the forestry sector, marking a crucial support amid unprecedented challenges. President Kim Haakstad highlighted that many mills are cutting shifts or closing due to U. S.

tariffs exceeding 45 percent on Canadian softwood lumber. The federal support plan includes a "Buy Canadian" policy and aims to reduce interprovincial freight rates for steel and lumber by 50 percent. Haakstad emphasized the urgency for quick rollout of the aid, referencing delays in previous support that hindered timely business decisions. She credited the federal government for its engagement with the forestry sector but stressed the need for provincial action to bolster competitiveness. The new federal initiative adds to the previously announced support of $700 million in loan guarantees and $500 million in long-term assistance made in August.

The forestry sector's resilience is crucial for the communities it supports in British Columbia. As the industry navigates these challenges, maintaining operational stability remains a priority.